House or condo: What’s right for you?

Do you have young children, or are you hoping to start a family soon? Are you looking for the ideal home for you and your family? If so, you’re probably wondering whether a house or a condo best fits the bill. Remember: there’s no right or wrong answer! It’s a highly personal decision, and your answer will depend on the lifestyle you want. Here are a few questions to guide your decision.

How much space do you need?

How many bedrooms do you need? Will a family member need a home office or workspace? Do you want one or two floors? Generally, single-family homes are more spacious, but new condos use space more efficiently thanks to optimized floor plans. Bottom line: In a condo, you can keep your cost of living low in a smaller, better-organized space.

Condo living also means sharing common areas with your neighbours. This can be a great option for young families. It all depends on how much you value community, versus your need for privacy.

Related article : Finally: A condo community for Montreal families

What’s your ideal lifestyle?

Are you looking for a home where you can be active in your community, have picnics with friends, take your kids to story time at the library, and get your bread from the corner bakery? If your answer is yes, a condo in a central Montreal neighbourhood would be just the ticket. But if you’re looking for a quieter lifestyle, with a vehicle big enough to fit the whole soccer team, a single-family home may be your best bet.

Related article : Rosemont: A vibrant, family-friendly neighbourhood

How far do you want to commute?

When shopping for a home, most people look for a location that’s close to work and school. Time is precious, especially with young kids. A lot of urban condos are close to workplaces, schools, and other services, which keeps commuting to a minimum. The single-family home of your dreams? It may well be out of the way, which means you’ll end up spending more time in your vehicle.

Related article : Finally: A condo community for Montreal families

Are you handy or hands off?

Houses, especially older ones, require constant maintenance. If getting your hands dirty with renos and DIY is your idea of a good time, you’ll probably enjoy fixing up your house on the weekend. In condo buildings, on the other hand, professional contractors handle all work in common areas, and the costs are shared by all condo owners. This gives you more time to take your kids to the park, go to the gym, or… take a nap!

How much are you ready to spend?

It’s the million-dollar question! (Well, maybe not literally.) There’s a huge range of prices for houses and condos, but condos are generally cheaper than houses in any given neighbourhood. For example, in Rosemont–La-Petite-Patrie, the median cost of a single-family home was $435,000 in early 2017, compared with $304,000 for a condo. It’s also important to keep in mind that other recurrent costs like heating, taxes, and insurance grow with the size and value of your home.

Related article : Is a Montreal condo a good investment?

Want to buy in Montreal? It’s easier than you think!

The cost of properties is lower in up-and-coming neighbourhoods like Rosemont. For example, the new Cité Angus condo development has spacious two-storey units with three bedrooms and two full bathrooms starting at $322 509 + taxes. Learn more about Cité Angus.

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